Public Employees Retirement Association of Colorado Sells 46 Shares of RBC Bearings Incorporated (NYSE:RBC)

Public Employees Retirement Association of Colorado reduced its position in RBC Bearings Incorporated (NYSE:RBC) by 0.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,057 shares of the industrial products company’s stock after selling 46 shares during the period. Public Employees Retirement Association of Colorado owned 0.36% of RBC Bearings worth $33,521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC increased its position in shares of RBC Bearings by 162.2% during the third quarter. Barclays PLC now owns 21,030 shares of the industrial products company’s stock worth $6,296,000 after purchasing an additional 13,010 shares in the last quarter. SkyView Investment Advisors LLC increased its position in RBC Bearings by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock valued at $1,084,000 after buying an additional 58 shares in the last quarter. Tidal Investments LLC raised its stake in RBC Bearings by 36.0% in the third quarter. Tidal Investments LLC now owns 3,016 shares of the industrial products company’s stock valued at $903,000 after buying an additional 798 shares during the last quarter. Synovus Financial Corp boosted its holdings in RBC Bearings by 6.2% in the third quarter. Synovus Financial Corp now owns 13,830 shares of the industrial products company’s stock worth $4,141,000 after acquiring an additional 805 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of RBC Bearings by 6.7% during the third quarter. Retirement Systems of Alabama now owns 38,245 shares of the industrial products company’s stock worth $11,450,000 after acquiring an additional 2,405 shares during the last quarter.

Analyst Ratings Changes

RBC has been the subject of several research analyst reports. Morgan Stanley increased their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial lowered their price objective on shares of RBC Bearings from $410.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, KeyCorp upped their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $354.20.

RBC Bearings Stock Down 0.9 %

NYSE:RBC opened at $327.26 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The company’s fifty day moving average price is $335.77 and its 200-day moving average price is $323.64. RBC Bearings Incorporated has a 1-year low of $243.50 and a 1-year high of $372.83. The firm has a market capitalization of $10.28 billion, a P/E ratio of 44.95, a PEG ratio of 4.42 and a beta of 1.60.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.95, for a total value of $919,875.00. Following the sale, the chief executive officer now owns 320,088 shares in the company, valued at approximately $117,776,379.60. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. Company insiders own 2.60% of the company’s stock.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.